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Cooking gas prices fall sharply
The price of liquefied petroleum gas (LPG) was slashed by VND2,900 (14 US cents) per kg yesterday, meaning cooking gas prices would be cut by about VND35,000 (US$1.7) per tank weighing 12kg.
Key gas dealers, including PetroVietnam Gas, Saigon Petro and Vinagas, affirmed the price adjustment.
This was the sharpest cut in gas prices since the beginning of the year, helping the retailing price of cooking gas fall to around VND370,000 ($17.8) per tank.
The key enterprises said gas prices showing signs of easing on the world market were the main reason for the domestic cut. Many firms had inked LPG import contracts for May with a price of about $850 per tonne, a level significantly lower than last month's figure of approximately $1,000.
Cooking gas prices had increased strongly earlier this year, soaring up to VND90,000 ($4.3) per tank within the first two months of the year, according to the Ministry of Finance's price management department.
Retailing prices began to fall from March 3 when the ministry decided to exempt gas dealers from import duty, but they were down insignificantly VND16,000-19,200 ($0.77-0.92) per tank in March due to high world prices.
vietnamnews
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